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- In 2021, BlueCloud experienced 185% YoY revenue growth and nearly tripled its headcount
- Their deep technology skills and implementation capabilities deliver cloud data and analytics solutions that transform how enterprises operate and compete in the marketplace
Global cloud-only digital transformation company BlueCloud, announced today that it has received a majority equity investment at an enterprise value exceeding $100 million from Hudson Hill Capital (“HHC”).
In 2021, BlueCloud scaled to a run-rate surpassing $39 million, reflecting 185% growth YoY with a 30% revenue increase from Q3 2021 to Q4 2021. The demand for digital transformation and specifically, cloud data and analytics fueled their growth. Large enterprises now recognize cloud data and analytics tools as a significant competitive advantage that promotes enterprise scalability.
BlueCloud employs approximately 320 people across US, India and Turkey that specialize in data and analytics, cloud operation, and other digital transformation services. Key clients contributing to rapid growth include Fortune 500 enterprises within the financial services, insurance and logistics industries. Additionally, BlueCloud has cultivated partnerships with leading cloud data providers such as Snowflake, ThoughtSpot, and DataRobot.
“As enterprise cloud adoption reaches record highs, strategic support from our partners enables us to accelerate technology solutions that help our clients simplify and scale through digital transformation,” said Kerem Koca, co-Founder and co-CEO of BlueCloud. “We are well-positioned to become a global leader in cloud solutions and HHC’s investment in this shared vision speaks volumes to the quality of both the team and technology we have built. Our partnership with HHC represents a significant growth milestone for BlueCloud.”
The growth investment in BlueCloud will enable the company to focus heavily on expanding AI capabilities, executing acquisitions, and continuing to build a world-class team of IT leaders across all business practices. Collaborating with industry leading software partners will allow BlueCloud to deliver on the demand the company is already experiencing from clients seeking access to new technologies that bolster their competitiveness.
“We chose to partner with Hudson Hill Capital for their experience with rapidly growing middle-market technology companies and are thrilled with the transaction outcome after several months of building the relationship,” commented BlueCloud Chief Financial Officer, Brian Alvarez. “This partnership will align a strong team and we will be working together to achieve an annual revenue run-rate of $80 million by the end of 2022. We look forward to partnering with HHC to expand our leadership team that will diversify our capabilities, enabling us to sprint into another year of exponential growth.”
BlueCloud specializes in implementing modern cloud data technologies and analytics to transform how enterprises operate and compete in the marketplace. The company’s defining differentiators include its next-generation technologies and senior IT talent composed of former Deloitte, Oracle and Cognizant leaders. BlueCloud takes a data-driven approach to digital transformation and consulting services. Core services include digital and cloud transformation strategy, digital architecture, digital & cloud roadmap creation, back and front-end data warehousing support, data lake creation, advanced analytics, data science including AI & machine learning (“ML”) and data quality/governance.
"Kerem and Praveen have addressed a unique need in the digital transformation space and HHC is excited to partner with them during the company's next phase of growth,” said Eric Rosen, Managing Partner of Hudson Hill Capital. “Cloud adoption is the new reality for organizations to remain agile and maintain competitive positioning in the new world of remote work, distributed teams, and increased customer expectations. BlueCloud’s proven ability to integrate an impressive list of next-generation technology partners into very large enterprises, combined with their track record of attracting and retaining experienced IT talent leads to their success in this market – as evidenced by their impressive growth rate in 2021.”
Lincoln International acted as the exclusive investment banking representative for BlueCloud, working closely with the company’s shareholders and management team throughout the transaction process.
